Bush Administration Expands on FHASecure Mortgage Assistance

The Bush Administration recently implemented an expansion of FHA Secure Mortgage Assistance, a program which helps homeowners who are at risk of being unable to keep up with their high-cost subprime adjustable rate mortgages. It is estimated that by the end of this year, the expansion will help 500,000 families to refinance into a more affordable mortgage, and it is hoped that the program will also help to break the cycle of continued downturn in the housing market.

To read the full story on this plan, please visit:
http://www.hud.gov/news/release.cfm?content=pr08-106.cfm